 FOREX
Technical Analysis
Technical Analysis is probably the most common and successful
method of making trading decisions and analyzing forex and commodities
markets.
Technical analysis differs from fundamental analysis in
that technical analysis is applied only to the price action of the market,
ignoring fundamental factors. As fundamental data can often provide only
a long-term or "delayed" forecast of exchange rate movements,
technical analysis has become the primary tool with which to successfully
trade shorter-term price movements, and to set stop loss and profit targets.
Technical analysis consists primarily of a variety of
technical studies, each of which can be interpreted to generate buy and
sell decisions or to predict market direction.
Support and Resistance Levels
One use of technical analysis, apart from technical studies,
is in deriving "support" and "resistance" levels.
The concept here is that the market will tend to trade above its support
levels and trade below its resistance levels. If a support or resistance
level is broken, the market is then expected to follow through in that
direction. These levels are determined by analyzing the chart and assessing
where the market has encountered unbroken support or resistance in the
past.
Popular Technical Analysis Tools
Moving Averages (MA): Indicators used to smooth price
fluctuations and identify trends. The most basic type of moving average,
the simple moving average, is the average of the past x bars ending with
the current bar;
Moving Average Convergence Divergence (MACD): Indicator
that utilizes moving averages to identify possible trends and an oscillator
to determine when a trend is overbought or oversold;
Bollinger Bands: Bands that are placed x moving average
standard deviations above and below a simple MA line;
Fibonacci Retracement Levels: Indicator used to identify
potential levels of support and resistance;
Directional Movement Index (DMI): A positive line (+DI)
measuring buying and a negative line (-DI) measuring selling pressure;
Relative Strength Index (RSI): Momentum oscillator that
is plotted on a vertical scale from 0 to 100;
Stochastics: Momentum oscillator that measure momentum
by comparing the recent close to the absolute price range (high of the
range minus the low of the range) over a period of x bars;
Trendlines: Straight line on a chart that connects consecutive
tops or consecutive bottoms of prices and is utilized to identify levels
of support and resistance;
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ADD Indicator Moving Average
Method by Save Indicator................ Click Save
Chart...
Enter Chart Name (by you)
Setting Indicator -- Add
Indicator by Name and Parameter below
1. Moving Average
Type : Exponential
Period : 12
Line Color : Green
2. Moving Average
Type : Exponential
Period : 26
Line Color : Blue
Remark RED CIRCLE
Are you ready to RICHER?
Graph Analysis
1. If Living Trading UP
and If 2 line(Green and Blue) cross over
Trend Living Trading
Go down
2. if Living Trading Down
and if 2 line(Green and Blue) cross over
Trend Living Trading
Go
UP
Picture Red Circle
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